Russia and China water down G20 text on geopolitical tensions; finance chiefs pledge global tax deal to take effect in 2023 in Jakarta

A general view of the opening ceremony of the G20 finance ministers and central bank governors meeting in Jakarta, Indonesia. - AFP

JAKARTA/WASHINGTON, Feb 19 (Reuters): Russia and China watered down a G20 finance leaders' statement on geopolitical risks to the global economy as a contentious meeting ended on Friday (Feb 18), deleting a reference to "current" tensions as financial markets fretted over the prospect of war in Ukraine.

The gathering of finance ministers and central bank governors from the Group of 20 major economies was one of the most fractious since the start of the COVID-19 pandemic in 2020, according to people familiar with the discussions.